Uniform Acts Drafting Conventions

PRELIMINARY COMMENT: A Reference to a “Recommendation” in this Act is a reference to the corresponding Recommendation set out in the Report of the Uniform Income Trusts Act Working Group to the Uniform Law Conference of Canada, Civil Law Section (July 2006)(the “Report”):  

LINK TO THIS .pdf   http://www.chlc.ca/en/poam2/Uniform_Income_Trusts_Act_Report_En.pdf

A reference to the “CBCA” is a reference to the Canada Business Corporations Act, R.S.C. 1985, c. C-44) current to February 27, 2008:
http://laws.justice.gc.ca/en/showtdm/cs/C-44

CONTENTS

PART 1 - Interpretation and Application

1. Interpretation

2. Control

3. Affiliated trusts

4. Trusts, mutual funds not legal persons

5. Application

6. Governing law

PART 2 – Unit-holder Immunity

7.   Unit-holder immunity – mutual funds

8.   Unit-holder immunity – income trusts

9.  Retroactive effect

PART 3 – Unit-holder Rights and Remedies

10. Unit-holder rights

11. Election of trustees

12. Removal of trustees

13. Proposals

14. Requisition of meeting

15. Investigation

16. Powers of the court – investigation

17. Powers and duty of inspector

18. Hearings

19. Privilege (defamation)

20. Solicitor-client privilege

21. Interpretation

22. Application of section 23

23. Application to court re oppression

24. Commencing representative action

25. Powers of the court - representative action

26. Right to dissent

PART 4 - powers and duties of trustees

27. Disqualification of individual trustees – income, subsidiary trusts

28. Qualification of corporate trustees – income trusts

29. Qualification of corporate trustees – subsidiary trusts

30. Disqualification of corporate trustees

31. Ceasing to be trustee

32. Duty to manage or supervise management

33. Delegation

34. Duties of trustees

35. No exculpation

36. Disclosure of interest

37. Trustee liability – debt, contract

38. Trustee liability – general

39. Indemnification – specific payments

40. Indemnification – general

41. Insurance

42. Unsecured creditors

PART5 - Arrangements and Compulsory Acquisitions

43.  Arrangement

44.  Reorganization

45.  Take-over bids - compulsory and compelled acquisitions

46.  Obligation to acquire units

PART 6 – General

47.  Power to make regulations

48.  Consequential Amendment to the Partnerships Act

49.  Commencement of Act

Next Annual Meeting

2018 Conference (Centennial)

Delta Hotel

Québec City, QC

August 12 - 16, 2018